If all of the elements in a large system are loosely coupled to one another, then any one element can adjust to and modify a local a local unique contingency without affecting the whole system. These local adaptations can be swift, relatively economical, and substantial.
Karl E. WeickRelated topics
contingency element large local substantial swift system unique elementsRelated quotes
A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority of homeowners have built up substantial equity in their homes despite large mortgage-market financed withdrawals of home equity in recent years.
Alan Greenspan
The American people are doing their job today. They should be given a chance to show whether they wish to preserve the principles of individual and local responsibility and mutual self-help before they embark on what I believe to be a disastrous system. I feel sure they will succeed if given the opportunity.
Herbert Hoover
There is in even the most selfish passion a large element of self-abnegation. It is startling to realize that what we call extreme self-seeking is actually self-renunciation. The miser, health addict, glory chaser and their like are not far behind the selfless in the exercise of self-sacrifice.
Eric Hoffer
